Local growth bottoms out in second quarter
By Zheng Yangpeng | China Daily | Updated: 2014-07-22 07:30
First-half growth slowed in many provinces this year, although it picked up in the second quarter compared with the first as top-down stimulus measures kicked in and local governments took pro-growth steps of their own.
Of the 11 regions that have so far released first-half GDP statistics, just one-the northwestern province of Qinghai-achieved double-digit expansion.
The overall low level of growth was very unusual in the past few years. Western regions, whose growth rates easily surpassed 10 percent previously, have descended into single-digit territory, with GDP growth slipping by as much as 3.7 percentage points compared with 2013.
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